12.09.2006

Tanfield trading statement

Tanfield, owner of UpRight Powered Access will announce first half numbers later this month. In the meantime it has issued a brief trading statement.

The statement says that the company has seen a significant rise in order intake level for UpRight which has exceeded £1 million a week for the first time since Tanfield acquired it.

The company also says that it “secured significant orders for approximately 100 machines, with a gross sales value of around £1.5 million” at the recent Platformer days in Germany.

It also says that its backlog remains strong in spite of doubling production since the acquisition in April, with order intake continuing to outstrip product
output.

The transfer of production from Ireland to the new manufacturing facility near Newcastle is apparently going well with the first assembly already installed. The first products are due to ship from this line by the end of September.

Commenting on these achievements Tanfield chairman, Roy Stanley, said:

"The continued increase in order intake for UpRight is further endorsement of our strategy to grow our global distributor network, which has risen from 45 at the start of 2006, to more than 140. This growth demonstrates that the market's confidence in UpRight Powered Access continues to return”.

Tanfield has said that final numbers will be released on September 25th